Company stamp or seal is used to validate official documents such as certificates, contracts, and deeds. The stamp contains the company name and registration number. Even though using a company seal is no longer mandatory in Singapore, it is still a common practice.
The company secretary is responsible for keeping the company stamp and using it when required.
When to use a Company Stamp?
For years, companies have been using seals or stamps to validate and support the authenticity of important documents. The use of seal or stamp expresses a company’s commitment to the act or contract. However, the importance of seal has changed over time. While many companies continue to use stamps, no legal interpretations are made on the seals.
The company stamp is used in the following ways:
- To attest a document and execute it as a deed instead of a simple contract
- On specific company documents like share certificates
- When a document contains information required by law. According to the Companies Act, all documents must include the company registration number. The best way to maintain this is to use a stamp or a letterhead.
How to get a Company Stamp?
Getting your hands on a company stamp is easy. You can choose from plenty of providers who make custom company stamps for Singapore entrepreneurs. All you have to do is select a design from the offered variety and provide company-specific information.
There are no legal requirements on what you must include in the stamp but company name and UEN are common inclusions for company stamps. Depending on your preference, you may also include the registered address and contact details if you deem them as important. Once you provide all the required information, you just need to wait for the stamp to be ready. Thankfully, it is a quick process and you will receive in a few days.
The price of a company stamp is inexpensive and varies depending on size and design.
Is it Mandatory to have a Company Stamp?
Having or using a company stamp is not mandatory. Based on Section 41A of the Companies Act, company stamps are absolutely optional.
Despite it not being mandatory, Singapore companies continue to use stamps due to traditional reasons.
Today, a signature from the company CEO, director, or other officers is more recognizable than a company stamp. Yet, many companies still use it as a mark of corporate identity.